Bearish ICE Brent crude mostly flat today, trading at $75.5

Having lost $2.41 over 5 days, Today is looking a bit better: Brent crude oil trades at $75.5 per barrel, after ending yesterday at $75.96.

Brent crude oil's state is reflected by market data as Initial Jobless Claims in United States fell short of market expectations (235,000) with a reading of 261,000, continuing the decline from the previous figure of 233,000. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.39 trillion, while the previous figure was 8.39 trillion. Fresh Reserve Balances with Federal Reserve Banks data from United States came out at 3.31 trillion.

Brent Crude Oil's upper Bollinger Band® is at $78.77 and the lower is $74.06.

Despite muted price action in Brent crude oil, chart analysis indicates it is positioned for a bullish run in the short term.

Brent crude is trading 38.75% lower compared to the $123.6 high it reached over the past year.